India Queen Basnati Rice
India Queen Basnati Rice

The Thailand Government is expecting high interest from traders in the upcoming fifth rice auction to be held on August 11.It may attract several rice professionals as currently there is a high demand for white and jasmine rice as quoted by the Deputy Director General of the Foreign Trade Department (FTD) .

The sources said that auction of about 668,000 tons of stockpiled rice, comprising of 11 types of rice will take place on August 11.Further, it was informed that prices may not get affected due to the auction as there is high demand of Thai rice in the international markets which is due to low production of rice in India as well as a dry spell and floods in Myanmar. However, resumption of rains in some areas has eased the drought problem and prices may fall to some extent.

Further, at present, export prices of Thai 5% rice are at around $365 per ton and those of Thai jasmine rice are at around $865 per ton. But the Thai government still has about 15.11 million tons of rice in its stockpile the sources told.

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